I've liquidated my long position in Regions Financial after this morning's downward channel breach. RF is still in its horizontal channel, so in the medium term this stock is looking neutral. In the short term, it may head to channel bottom.
Square has established an uptrending channel, but it reached channel top yesterday and today turned negative. Look for further downside next week and buy any price below $67 for a profit by Friday.
Technical Analysis and Outlook
It seems like we have a currency war. Euro Dollar sank after dovish Super Mario - Draghi comment and surged after dovish Fed chair Powell remarks.
The short-term surge of the Euro Dollar trend sentiment remains semi-bullish and current rebound is producing push into Outer Currency Rally $1.1376 . The relatively weak Mean Res...
I've been closely watching Regions Financial. Originally I charted a steeper upward channel for this stock, but after today's moves I've adjusted my chart and am feeling a lot more confident about the pattern here. The question now is whether it will ultimately follow the horizontal channel or the upward-sloping one. Look for about 15.10 before it comes to a...
RF broke out of its upward-sloping parallel channel after the Fed's hint that it may cut rates in July. Rate cuts are generally bearish for banking stocks.
RF is now in a horizontal parallel channel. Analysts remain bullish, so I still suspect it will break upward out of the channel ahead of July 19 earnings. If it holds at the current high-volume support above...
The KBE ETF, which tracks an equal-weighted index of U.S. banking stocks, has been rising on a very steady 1M Channel Up since the 2008 financial crisis and has recently rebounded on the latest Higher Low (RSI = 50.776, MACD = 0.640, Highs/Lows = 0.0000). This presents a good buy opportunity on banking stocks, which are expected to outperform the market in the...
Technical Analysis and Outlook
With Gold fulfilled Outer Gold Rally $1322 , Inner Gold Rally $1326 and the weak obstacle of the Key Res $1321 we are now in a position to witness an advance move towards the Next Gold Rally $1345 and possibly beyond in the near-intermediate time frame, while looking forward to addressing 2018 Yearly High $1366 , and Key...
Investec plc is an international, specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa, and Australia as well as certain other countries. Investec plc is the controlling company of the majority of the group's non-Southern African...
Royal Merchant Bank (RMB) Holdings is an investment company, with its main holding being a 34% interest in FirstRand Bank Limited, one of southern Africa’s premium banking groups. The group’s history can be traced back to the consolidation of Rand Consolidated Investments and Rand Merchant Bank in South Africa in 1987, giving the group a wide interest in the...
Established in 2001, Capitec has become South Africa’s fastest growing bank, and today has more than 7.3 million clients, 720 branches and over 11 000 employees. With shares listed for sale on the Johannesburg Stock Exchange (JSE) in 2002, the bank is renowned for its affordability and simplified model of banking, which has received superb buy in from clients of...
Nedbank Group is one of SA’s four largest banking groups by assets and deposits, with Nedbank Ltd. being its principal banking subsidiary. Nedbank Group is a JSE Top 40 company with its ordinary shares listed on the JSE since 1969 and on the Namibian Stock Exchange since 2007. The group's market capitalisation was R128 billion at 31 December 2017. Old Mutual plc...
A dark cloud cover has formed on JSE:SBK which is a top reversal signal, so we can expect a downwards move.
A dark cloud cover follows a preceding up trend where a red candle opens up above the previous day's green candle and closes 50% below it's body.
This particular pattern has formed on quite a strong resistance level which solidifies the signal.
We will...
